A pedestrian walks past a banner displaying Palantir Technologies signage for the company’s initial public offering (IPO) in front of the New York Stock Exchange (NYSE) on September 30, 2020.
Michael Nagel | Bloomberg | Good pictures
Check out the companies making headlines ahead of time:
Palantir Technologies — Shares of Palantir jumped nearly 20% after the enterprise computing company best known for its data mining platforms posted first-quarter results that beat analyst estimates. The company also released full-year profit guidance. CEO Alex Karp said demand for the company’s artificial intelligence platform is “unprecedented.”
3D Systems — 3D Systems fell 9.8% after a disappointing post. First quarter Results. The maker of 3D printers reported an adjusted loss of 9 per share on revenue of $121 million. Analysts had forecast a loss of 7 cents per share for Refinitiv on revenue of $128 million. Additionally, the company cut 6% of its workforce. It reaffirmed full-year revenue guidance, although raised its full-year adjusted EBITDA forecast. Jeffrey Graves, president and CEO of 3D Systems, said, “We attribute the slowdown in consumer discretionary spending to continued softness in our dental orthodontic market.”
Skyworks Solutions — Skyworks Solutions fell more than 9% after providing weaker-than-expected fiscal third-quarter guidance. The semiconductor company forecast non-GAAP earnings per share of about $1.67, according to the Street Account. It expected revenue between $1.05 billion and $1.09 billion, while analysts expected guidance to come in at $1.15 billion. Otherwise, the company reported Second-quarter earnings were in line with expectations, according to The Street Account.
Under Armor — Despite Under Armour’s fiscal fourth-quarter results beating expectations on both the top and bottom lines, shares of the apparel company fell nearly 5% in premarket trading, according to Refinitiv. However, the company’s full-year outlook for revenue and earnings per share fell short of expectations. Under Armor will post earnings of between 47 cents and 51 cents per share next year, compared with the 61 cents expected by analysts, according to the Street Account.
Fisker — Fisker fell 12.5% in the premarket after first-quarter earnings missed estimates. The automaker reported a better-than-expected loss of 38 cents per share, while analysts had estimated a loss of 30 cents per share, according to Refinitiv.
Western Digital – Chip shares rose about 2% in the premarket after the company reported a revenue hit in the latest quarter. It appeared to walk away from a wider-than-expected quarterly loss. Wedbush reiterated its outperform rating after Tuesday’s earnings report, citing confidence in its earnings potential and the hope that investors like Elliott and Apollo will eventually make a strategic impact on the stock.
PayPal Holdings – Shares of the payments company fell more than 5% on an otherwise upbeat report hurt by weak current-quarter earnings guidance. Refinitiv said full-year revenue guidance was very encouraging and the company posted better-than-expected revenue and earnings.
Lucid Group – The electric vehicle maker fell nearly 11% in premarket trading after posting a bigger-than-expected quarterly loss. The company reported revenue of $149.4 million, versus Refinitiv analyst expectations of $209.9 million.
Trex Company – Trex Company rose 4.8% in premarket trade more Topping and below analysts’ expectations in the first quarter and delivering better-than-expected second-quarter earnings guidance. According to FactSet, the maker of wood-substitute decking and railing expects second-quarter revenue of $310 million to $320 million, while analysts had forecast guidance of $309.0 million.
McKesson — McKesson rose 4.6% after posting better-than-expected quarterly results. The company reported adjusted earnings of $7.19 per share, topping the Street analyst forecast of $7.18 per share. It posted revenue of $68.91 billion, beating estimates of $68.08 billion.
— CNBC’s Brian Evans, Yun Li, Tanaya Maciel and Jesse Pound contributed reporting